EconPapers    
Economics at your fingertips  
 

Public Willingness to Pay for Interstate Cooperation to Preserve the Ecological Integrity of the Han River Estuary in Korea

Min-Ki Hyun, Jungho Nam and Seung-Hoon Yoo ()
Additional contact information
Min-Ki Hyun: Department of Energy Policy, Graduate School of Convergence Science, Seoul National University of Science & Technology, Seoul 01811, Republic of Korea
Jungho Nam: Marine Policy Research Department, Korea Maritime Institute, Busan 49111, Republic of Korea
Seung-Hoon Yoo: Department of Future Energy Convergence, College of Creativity and Convergence Studies, Seoul National University of Science & Technology, Seoul 01811, Republic of Korea

Sustainability, 2024, vol. 16, issue 9, 1-17

Abstract: The Han River Estuary (HRE), Yellow Sea, forms part of the border between South Korea and North Korea, and these two countries are militarily hostile. Since the HRE has quite excellent ecological integrity, the task of preserving it well is emerging as important. Thus, the South Korean Government is attempting to preserve the ecological integrity of the HRE through interstate cooperation. By employing contingent valuation, this study delves into South Korean households’ willingness to pay (WTP) for this preservation. One thousand households nationwide were sampled and surveyed through face-to-face individual interviews. Annual household income tax was selected as the payment vehicle. Dichotomous choice questioning was chosen as the WTP induction method. A spike model was selected as a method for modelling a WTP of zero. The main results showed statistical significance. Annual WTP per household and national WTP were obtained as KRW 4487 (USD 3.92) and KRW 125.75 billion (USD 109.83 million), respectively. When a 10-year payment period and a 4.5% discount rate were adopted, the value was KRW 766.14 billion (USD 669.12 million). South Korean households placed considerable value on the preservation of the ecological integrity of the HRE through interstate cooperation.

Keywords: Han River Estuary; ecological integrity; interstate cooperation; contingent valuation; willingness to pay (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2071-1050/16/9/3572/pdf (application/pdf)
https://www.mdpi.com/2071-1050/16/9/3572/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:16:y:2024:i:9:p:3572-:d:1381961

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().

 
Page updated 2025-03-19
Handle: RePEc:gam:jsusta:v:16:y:2024:i:9:p:3572-:d:1381961